EOD Update 01-03-2019

Rel Comm Case before NCLAT | NCLAT advises lenders against IBC proceedings, backs resolution through sale of assets

BEML bags contract for 7 Metro train sets of 6 cars configuration to augment the metro services in Bengaluru, valued around Rs 400 Cr

Cabinet approves Rs 1,400cr greenfield airport at Rajkot
The greenfield airport is situated in Hirasar district of Gujarat which will be 28 kilometres from Rajkot.

Cabinet clears transfer of Air India’s Rs 29,464cr loans, 4 subsidiaries to SPV

‘Investing on steroids’ pays off for thematic ETFs
Thematic ETFs on average cost investors $5.80 for every $1,000 invested, compared with $5.00 for all ETFs.

Crowd funding platforms rush to Sebi for alternative investment fund tag
This brings a major part of early start-up funding under market regulator Sebis purview.

Castrol India to provide support to Ford India in product engineering w.e.f April 1

Grofers raises $60 million; valuation jumps to $425 million: Report
The latest funding would help Grofers continue its expansion into the fast-moving consumer goods segment.

SEBI India in its board meet, has approved change in norms for open offer exemption for cases under IBC

GDR manipulation: Sebi bans Commex Technology for 5 years
The regulator after conducting a probe found that the firm issued 1.91 million GDRs worth USD 9.99 million on May 25, 2009, on the Luxembourg Stock Exchange.

Rs 10,000- cr over 3 years should kickstart EV industry: Pawan Goenka, M&M
It will be long time before IC engines are replaced completely by EVs, says Goenka

GST Collections Drop To 97,247 Crore Rupees In February

Goods and Services Tax (GST) collections in the current fiscal till February totalled Rs 10.70 lakh crore.

Sebi to ease norms for investors willing to invest in startups
The investor having a demat account will make an application to the stock exchanges or depositories to be recognised as an ‘accredited investor (AI)’.

Indian Economy To Grow At 7.3% For Next 2 Years: Moody’s

Moody’s said the overall strength of the banking system, which got capital infusion from the government in February, is improving but it remains a constraint on the economy.

ABB India Q4 profit up 58% at Rs 129 cr
Total income in December quarter rose to Rs 1,982.30 crore from Rs 1,725.48 crore a year ago.

Tata Motors domestic sales fall 3% to 57,221 units in February
The company said its commercial vehicle (CV) sales in the domestic market stood at 39,111 units in February, down five per cent from 41,222 units in the same month of 2018.

SBI Reports Frauds Of Rs 7,951 Crore In April-December Of FY19

SBI, the country’s largest lender by assets, said all those accounts became non-performing assets “much earlier” and that most of the portfolio was already provided for with full provision.

Tata Motors Denies Reports Of JLR Unit Stake Sale

Two media reports said the company was considering options including a minority stake sale in the JLR unit or finding a venture partner that would jointly develop vehicles and lower costs.

Hasmukh Adhia Appointed Non-Executive Chairman Of Bank Of Baroda

Hasmukh Adhia, a 1981-batch IAS officer of Gujarat cadre, superannuated on November 30 last year. He last served as the Finance Secretary.

Grant Thornton audit of ILFS group company shows Rs 2,364 crore given to promoters, directors

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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